Smart Contract
Self-executing code stored on a blockchain that runs exactly as written — the building block of DeFi, DApps, and tokens.
A smart contract is a program deployed on a blockchain. When its conditions are met, it executes automatically and immutably — nobody can stop it, pause it, or change its rules after deployment (unless the code itself grants that power).
Programmable money
Contracts turn blockchains from simple ledgers into computing platforms. They power exchanges with no employees, loans with no banker, and tokens with automatic supply rules. Ethereum made the “world computer” concept mainstream.
Risks
Code is law, for better or worse. A bug in a contract can be exploited by anyone — which is why audited code and mechanism design matter. W3D’s software pillar assesses how concentrated a chain’s developer power is.
Related terms
DApp, DeFi, Ethereum, Token, Gas Fees, Oracle